Power electronics are expected to have a global market worth US$ 28 billion by 2022 and expand at a CAGR of 5% from 2022 to 2032. Sales of power electronics are predicted to create an opportunity worth a total of 44 billion dollars by the year 2032. Due to increased usage in the consumer electronics and power generation industries, there would be a rise in the market’s need for power electronics.
FMI has launched a new market research report that provides updates and information on the Industrial Electronics Packaging Market by Top Manufacturers, Regions, Type and Application, and Forecast study market. In-depth company assessments, historical and projected market trends, and global sales trends through 2029 are all included in the Industrial Electronics Packaging Market research study. It will rank as one of the most comprehensive and important improvements for business growth through market research studies.
The market for industrial electronics packaging is presently valued at US$ 1.9 billion, and by the end of 2029, it is expected to grow at a CAGR of 4.1% to reach US$ 2.5 billion in net worth.
In 2022, it’s anticipated that the volume of industrial electronics packaging solutions would increase by around 3.5% annually. According to a recent market research analysis by Future Market Insights (FMI), industrial controls and power electronics account for over 70% of the demand for industrial electronics packaging.
Rigid format packaging makes up more than 90% of all industrial electronics packaging options. Although they are quickly gaining popularity across industries, flexible packaging types only make up a tiny portion of industrial electronics packaging.
Plastics dominate the industrial electronics packaging business globally and currently account for roughly 60% of all packaging materials used for industrial electronics. According to the analysis, polyethylene (PE), followed by polyvinyl chloride (PVC), would continue to be the most lucrative market category for industrial electronics packaging.
Top Key Players Covered-
- DS Smith Plc.
- Smurfit Kappa Group Plc.
- UFP Technologies Inc.,
- Sealed Air Corporation,
- Achilles Corporation,
- Desco Industries Inc.,
- Botron Company Inc.
- Kiva Container Corporation
- Orlando Products Inc.
- Delphon Industries LLC
- Summit Container Corporation
- Protective Packaging Corporation
- Dou Yee Enterprises (S) Pte Ltd.
- Dordan Manufacturing Company Inc.
- GWP Group Limited
- Pure-Stat Engineered Technologies Inc.
- AUER Packaging GmbH
- Emballages Cre-O-Pack International Inc.
- Universal Protective Packaging Inc.
Asian Economies Hold Promising Investment Opportunities for Industrial Electronics Packaging Companies
Although the survey indicates that East Asia’s market attractiveness would expand significantly in the coming years, North America is still anticipated to be the region with the largest industrial electronics packaging market. Thus, according to FMI’s analysis, the East Asian market for industrial electronics packaging will continue to be a major regional player in the industrial electronics packaging landscape.
Japan and China are the two countries with the largest market shares in East Asia. Manufacturers of industrial electronics packaging solutions have been advised to place their money in South Asia, which may offer greater investment returns than other regional markets. The robust production of consumer electronics and rising demand for impact-resistant protective packaging solutions are credited with driving the growth of the South and East Asian markets.
Europe is a significant market for industrial electronics packaging, with Germany accounting for more than 60% of that market. Due to its extraordinarily high rate of production of semiconductor equipment and components, the nation will continue to dominate the European market.
Europe & the US Account for a Massive Share in Global Production of Industrial Electronics
Manufacturers of industrial electronics packaging are looking to expand their businesses into nations with significant domestic manufacturing of consumer electronics to get a stronger footing in the global industrial electronics packaging market. Given that the US and Europe account for more than 60% of the world’s production of industrial electronics, the top producers of industrial electronics packaging is either situated in these regions or have a significant presence there.
Industrial Electronics Packaging Market by Material Type:
- Plastic Industrial Electronics Packaging
- Paper & Paperboard Industrial Electronics Packaging
Industrial Electronics Packaging Market by Packaging Type:
- Rigid Industrial Electronics Packaging
- Corrugated Boxes
- Protective Packs
- Bin & Totes
- Flexible Industrial Electronics Packaging
- Bags & Pouches
- Tapes & Labels
- Films & Others